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 31/10/2008 - The exchange (Euro-Dollar ) has landed this morning at 1,2742. Yesterday it was at 1,32. Only a few days ago it was 1,24. The last decision of BCE and FED were at the origin of the fast changes of course. The Federal Reserve decided to cut the prime rate 50 basic point. Probably it is at the origin of the strength of the Euro over the last few days. From the minimum of 28 October (1,24) we arrived at the maximum (1,32) yesterday ( 30 October). But the real news yesterday was the Gross Domestic Product of United States that in the 3rd quarter 2008 decreased at the annual rate of -0,3% . The analyst expected a drop of -0,5%. The real surprise is that the news are always better that the expectations. So the Euro lost over a 3.5 percent against the dollar in only a day. Over the next few days we will see if the BCE will lower the prime rate as the analysts are expecting. This could give new strength to the American Dollar. As always we will have to wait to find out how these events develop.